CX Institutional Makes New Investment in Toro Company (The) $TTC

Key Points

• CX Institutional initiated a Toro position by purchasing 68,943 shares valued at approximately $6.65 million, while institutional investors collectively own 87.95% of the company.
• Toro reported quarterly earnings of $1.33 per share and revenue of $1.23 billion, exceeding analyst expectations; revenue increased 8.4% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $111.67. Toro also declared a quarterly dividend of $0.39 per share, equivalent to a 1.6% annualized yield.

CX Institutional bought a new position in shares of Toro Company (The) (NYSE:TTC - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 68,943 shares of the company's stock, valued at approximately $6,647,000. CX Institutional owned about 0.07% of Toro at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Corient Private Wealth LP boosted its holdings in Toro by 1,063.5% during the second quarter. Corient Private Wealth LP now owns 187,982 shares of the company's stock worth $18,314,000 after buying an additional 171,826 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Toro by 4,227.0% in the second quarter. Baird Financial Group Inc. now owns 175,893 shares of the company's stock valued at $17,135,000 after buying an additional 171,828 shares in the last quarter. Engineers Gate Manager LP raised its position in shares of Toro by 73.9% in the second quarter. Engineers Gate Manager LP now owns 75,330 shares of the company's stock worth $7,339,000 after acquiring an additional 32,003 shares during the period. Benjamin Edwards Inc. raised its position in shares of Toro by 22.0% in the second quarter. Benjamin Edwards Inc. now owns 74,419 shares of the company's stock worth $7,250,000 after acquiring an additional 13,433 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of Toro by 416.7% during the 1st quarter. SG Americas Securities LLC now owns 68,455 shares of the company's stock worth $6,396,000 after acquiring an additional 55,206 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Oppenheimer assumed coverage on Toro in a report on Wednesday, September 23rd. They issued an "outperform" rating and a $120.00 price target for the company. DA Davidson dropped their price objective on Toro from $117.00 to $115.00 and set a "buy" rating on the stock in a report on Friday, September 4th. Wall Street Zen raised Toro from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 26th. Robert W. Baird decreased their target price on Toro from $105.00 to $100.00 and set a "neutral" rating on the stock in a research report on Friday, June 5th. Finally, Weiss Ratings raised shares of Toro from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $111.67.

Toro Price Performance

Toro stock opened at $98.75 on Friday. Toro Company has a 12-month low of $67.64 and a 12-month high of $105.18. The stock has a market cap of $9.35 billion, a P/E ratio of 26.40 and a beta of 0.66. The company has a 50-day moving average price of $96.29 and a 200 day moving average price of $94.38. The company has a current ratio of 1.58, a quick ratio of 0.74 and a debt-to-equity ratio of 0.72.

Toro (NYSE:TTC - Get Free Report) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.02. Toro had a net margin of 7.64% and a return on equity of 31.86%. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the prior year, the company posted $1.24 EPS. The business's revenue for the quarter was up 8.4% on a year-over-year basis. Toro has set its FY 2026 guidance at 4.600-4.650 EPS. Sell-side analysts anticipate that Toro Company will post 4.64 earnings per share for the current year.

Toro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Tuesday, October 6th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.6%. Toro's dividend payout ratio (DPR) is presently 41.71%.

Toro Company Profile

The Toro Company NYSE: TTC designs, manufactures and markets equipment and systems used to maintain landscapes, turf and outdoor environments. Its products serve professional contractors, golf courses, sports fields, municipalities, rental companies, construction and utility operators, and residential customers.

The company's product portfolio includes commercial and residential mowers, turf maintenance equipment, irrigation systems, snow and ice management equipment, compact utility loaders, trenchers, underground construction equipment and related attachments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.